Encouraging Indonesian Startup Ecosystem, JETRO Partners with Indogen to Hold Japan-Indonesia Innovation Summit 2022

JETRO (Japan External Trade Organization) Jakarta has officially extended its partnership with Indogen Capital as a Venture Capital Partner. The cooperation that has existed since 2020 will continue until 2023 for the Southeast Asia area.

Japan as the third largest economy in the world, has giant venture capital such as Softbank, JAFCO, and Global Brain. According to statistics, Japanese venture capital has invested 70.6 billion yen in all overseas companies and about 261.8 billion Japanese yen in domestic companies in Japan.

Furthermore, leading corporations in Japan that have become investors in VCs, are increasingly getting involved in investing with the pretext of exploring new business opportunities through the use of innovation. In the second quarter of 2022, the corporations that make up CVC (Corporate Venture Capital) have invested more than 16.5 billion Japanese yen.

Currently, Indonesia is ranked 6th with the largest number of startup companies in the world with a total of 2,426 originating from within the country by producing 13 unicorn startups. Seeing this landscape makes Japanese corporations interested in the ecosystem and potential funding for Indonesian startups.

In order to strengthen the ecosystem between Japanese and Indonesian corporations, the Japan External Trade Organization (JETRO) Jakarta took a strategic step in holding the Japan Indonesia Innovation Meetup 2022.

In collaboration with Indogen Capital, the event brought together Japanese and Indonesian startups, corporations and more than 150 executive level from leading corporations from Japan and Indonesia.

Carrying the theme “Innovation & Investment Landscape during Tough Times,” the Japan Indonesia Innovation Meetup acts as a bridge for the Japanese startup community to collaborate with leading startups and corporations to create innovation.

JETRO Jakarta Senior Director Kentaro Machii stated, JETRO wants to support collaboration between Japanese and Indonesian companies to accelerate digital transformation and green transformation in Indonesia and Japan.

According to him, the great interest of Japanese companies in Indonesian startups can support synergies in their businesses, and vice versa, many Japanese startups with advanced new technologies in fields such as IoT, AI, and Aerospace are interested in expanding their business to Indonesia and looking for local partners.

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“JETRO’s goal is to connect these companies for mutually beneficial cooperation, through this event and collaborating with Indogen Capital, we hope we can see interesting collaborations in the future,” said Machii in his statement.

The main event took place on Wednesday (5/10) in a hybrid manner with 4 key collaboration activities from Japanese and Indonesian companies.

The four activities include pitching Indonesian and Japanese startups to introduce business in the eyes of corporations, Panel Discussion which provides an overview of the investment landscape in Indonesia and is presented by experienced practitioners, and closed with an exclusive dinner that supports business matching between startups and corporations.

Managing Partner of Indogen Capital Chandra Firmanto stated, his party has been the leading Venture Capital in Southeast Asia in providing added value for the startup ecosystem.

“We consistently connect leading startups with leading corporations,” he said.

The Japan-Indonesia Innovation Summit 2022 event is a form of consistency between JETRO and Indogen in creating value collaboration by presenting leading startups with leading corporations between Japan and Indonesia. Indogen Capital partner Halim closed

“We are ready to provide free consulting support for Japanese and Indonesian companies who want to collaborate with each other or with leading startups from Japan and Indonesia by contacting [email protected],” Chandra added.

The event was also attended by startups from Indonesia and Japan with the scope of agritech, supply chain, fintech, automotive, food and beverage, and logistics industries. (RO/OL-7)

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